BTPN Set to Go Public This Year to Strengthen Network ExpansionThe Jakarta Post, page 14, 2006-07-28
Bank Tabungan Pensiunan Nasional (BTPN) will launch an initial public offering later this year in which it will sell up to 30 percent of its stock. BTPN is currently 28.39 percent owned by the government, 22.61 percent owned by PT Recapital Advisors, 20 percent by Fuad Hasan Masyhur, 19 percent by PT Danatama Makmur and 10 percent by PT Bakrie Capital Indonesia. Currently, the bank has some 371 branches. As of last year, BTPN’s total deposits amounted to Rp.3.51 trillion (US$ 390 million). This year, they hope to attract additional depositor funds of Rp.1 trillion and extend total loans worth Rp.800 billion. Last year, the bank’s total lending increased by 22.33 percent to Rp.3.233 trillion from Rp.2.643 trillion in 2004.

BTPN to Release 30 Percent of its SharesBisnis Indonesia, page B1, 2006-02-17
Bank Tabungan Pembangunan Nasional plans to release 20 percent to 30 percent of its shares through initial public offering (IPO). The fund raised from the IPO will be used to strengthen its credit expansion and also improve the condition of the bank’s information technology and building infrastructure.